10-K Filing

R F INDUSTRIES LTD CIK: 740664 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001144204-12-004278`
Period End Date	20111031
Filing Date	20120127
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	rfil-20111031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 96 Income Statement 33 Cash Flow Statement 64 Stockholders Equity 20

Balance Sheet 96 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.73M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$2.61M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$2.56M	USD	Point-in-time
Cash and cash equivalents ($420,663 for settlement of VIE obligations)	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Inventories	`InventoryNet`	$4.61M	USD	Point-in-time
Inventories	`InventoryNet`	$6.19M	USD	Point-in-time
Cash and cash equivalents ($420,663 for settlement of VIE obligations)	`CashAndCashEquivalentsAtCarryingValue`	$1.76M	USD	Point-in-time
Cash and cash equivalents ($420,663 for settlement of VIE obligations)	`CashAndCashEquivalentsAtCarryingValue`	$4.73M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$448.19K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$511.83K	USD	Point-in-time
Certificates of deposit	`TimeDepositsAtCarryingValue`	$4.58M	USD	Point-in-time
Certificates of deposit	`TimeDepositsAtCarryingValue`	$4.09M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$610.70K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$613.10K	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $102,736 and $75,734 ($809,120 for settlement of VIE obligations)	`AccountsReceivableNetCurrent`	$2.61M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $102,736 and $75,734 ($809,120 for settlement of VIE obligations)	`AccountsReceivableNetCurrent`	$2.56M	USD	Point-in-time
Inventories ($487,687 for settlement of VIE obligations)	`InventoryNet`	$4.61M	USD	Point-in-time
Inventories ($487,687 for settlement of VIE obligations)	`InventoryNet`	$6.19M	USD	Point-in-time
Land and building	`LandAndBuildingsGross`	$1.55M	USD	Point-in-time
Other current assets ($33,263 for settlement of VIE obligations)	`OtherAssetsCurrent`	$448.19K	USD	Point-in-time
Other current assets ($33,263 for settlement of VIE obligations)	`OtherAssetsCurrent`	$511.83K	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$2.43M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$2.94M	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$572.64K	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$508.22K	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$575.59K	USD	Point-in-time
Deferred tax assets ($42,100 for settlement of VIE obligations)	`DeferredTaxAssetsNetCurrent`	$610.70K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$32.16K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$102.83K	USD	Point-in-time
Deferred tax assets ($42,100 for settlement of VIE obligations)	`DeferredTaxAssetsNetCurrent`	$613.10K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.41M	USD	Point-in-time
Mortgages payable	`SecuredDebtCurrent`	$1.39M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.53M	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$75.73K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$102.74K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Land and building ($1,548,100 of collateral for VIE obligations)	`LandAndBuildingsGross`	$1.55M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.11M	shares	Point-in-time
Equipment and tooling ($305,399 for settlement of VIE obligations)	`MachineryAndEquipmentGross`	$2.43M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.86M	shares	Point-in-time
Equipment and tooling ($305,399 for settlement of VIE obligations)	`MachineryAndEquipmentGross`	$2.94M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.11M	shares	Point-in-time
Furniture and office equipment ($16,150 for settlement of VIE obligations)	`FurnitureAndFixturesGross`	$508.22K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.86M	shares	Point-in-time
Furniture and office equipment ($16,150 for settlement of VIE obligations)	`FurnitureAndFixturesGross`	$575.59K	USD	Point-in-time
Property, Plant and Equipment, Gross, Total	`PropertyPlantAndEquipmentGross`	$5.06M	USD	Point-in-time
Property, Plant and Equipment, Gross, Total	`PropertyPlantAndEquipmentGross`	$2.94M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.41M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.62M	USD	Point-in-time
Total equipment and furnishings	`PropertyPlantAndEquipmentNet`	$2.44M	USD	Point-in-time
Total equipment and furnishings	`PropertyPlantAndEquipmentNet`	$530.33K	USD	Point-in-time
Goodwill	`Goodwill`	$3.08M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.87M	USD	Point-in-time
Non-amortizable intangible assets	`OtherIntangibleAssetsNet`	$410.00K	USD	Point-in-time
Note receivable from stockholder	`DueFromOfficersOrStockholdersNoncurrent`	$66.98K	USD	Point-in-time
Note receivable from stockholder	`DueFromOfficersOrStockholdersNoncurrent`	$66.98K	USD	Point-in-time
Long-term investments in certificates of deposit	`LongTermInvestments`	$946.49K	USD	Point-in-time
Other assets ($70,668 for settlement of VIE obligations)	`OtherAssetsNoncurrent`	$32.16K	USD	Point-in-time
Other assets ($70,668 for settlement of VIE obligations)	`OtherAssetsNoncurrent`	$102.83K	USD	Point-in-time
Total assets	`Assets`	$24.38M	USD	Point-in-time
Total assets	`Assets`	$19.11M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$521.17K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$537.85K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.22M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.58M	USD	Point-in-time
Mortgages payable ($1,394,230 recourse limited to VIE creditors)	`SecuredDebtCurrent`	$1.39M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$123.91K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.88M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.49M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$1.07M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$18.80K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$132.87K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$297.39K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.20M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.70M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock - authorized 200,000,000 shares at $.01 par value; 7,110,507 and 5,861,764 shares issued and outstanding	`CommonStockValue`	$58.62K	USD	Point-in-time
Common stock - authorized 200,000,000 shares at $.01 par value; 7,110,507 and 5,861,764 shares issued and outstanding	`CommonStockValue`	$71.11K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$11.38M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$7.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.01M	USD	Point-in-time
Total RF Industries, Ltd. and Subsidiary	`StockholdersEquity`	$16.91M	USD	Point-in-time
Total RF Industries, Ltd. and Subsidiary	`StockholdersEquity`	$19.46M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$213.62K	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.25M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$16.91M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$19.68M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$19.11M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$24.38M	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$16.32M	USD	Annual
Net sales	`SalesRevenueNet`	$19.43M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$10.10M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$8.16M	USD	Annual
Gross profit	`GrossProfit`	$9.34M	USD	Annual
Gross profit	`GrossProfit`	$8.16M	USD	Annual
Engineering	`ResearchAndDevelopmentExpense`	$887.87K	USD	Annual
Engineering	`ResearchAndDevelopmentExpense`	$1.25M	USD	Annual
Selling and general	`SellingGeneralAndAdministrativeExpense`	$6.95M	USD	Annual
Selling and general	`SellingGeneralAndAdministrativeExpense`	$5.13M	USD	Annual
Goodwill impairment	`GoodwillImpairmentLoss`	$137.33K	USD	Annual
Totals	`OperatingExpenses`	$6.16M	USD	Annual
Totals	`OperatingExpenses`	$8.20M	USD	Annual
Operating income	`OperatingIncomeLoss`	$2.00M	USD	Annual
Operating income	`OperatingIncomeLoss`	$1.14M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$44.54K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$86.61K	USD	Annual
Interest expense	`InterestExpense`	$28.80K	USD	Annual
Other income, net	`NonoperatingIncomeExpense`	$15.74K	USD	Annual
Other income, net	`NonoperatingIncomeExpense`	$86.61K	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.09M	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.15M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$870.59K	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$378.83K	USD	Annual
Consolidated net income	`ProfitLoss`	$773.01K	USD	Annual
Consolidated net income	`ProfitLoss`	$1.22M	USD	Annual
Net loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-2.73K	USD	Annual
Net income attributable to RF Industries, Ltd. and Subsidiary	`NetIncomeLoss`	$775.74K	USD	Annual
Net income attributable to RF Industries, Ltd. and Subsidiary	`NetIncomeLoss`	$1.22M	USD	Annual
Basic	`EarningsPerShareBasic`	$0.12	USD	Annual
Basic	`EarningsPerShareBasic`	$0.21	USD	Annual
Diluted	`EarningsPerShareDiluted`	$0.19	USD	Annual
Diluted	`EarningsPerShareDiluted`	$0.11	USD	Annual

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$773.01K	USD	Annual
Net income	`ProfitLoss`	$1.22M	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$15.28K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$15.63K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$391.63K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$214.27K	USD	Annual
Goodwill impairment	`GoodwillImpairmentLoss`	$137.33K	USD	Annual
Inventory write-downs	`InventoryWriteDown`	$92.67K	USD	Annual
Inventory write-downs	`InventoryWriteDown`	$247.54K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$16.94K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-166.60K	USD	Annual
Stock based compensation expense	`ShareBasedCompensation`	$231.00K	USD	Annual
Stock based compensation expense	`ShareBasedCompensation`	$312.31K	USD	Annual
Excess tax benefit from stock based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$78.23K	USD	Annual
Excess tax benefit from stock based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$312.32K	USD	Annual
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$4.45K	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-750.53K	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$309.83K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-129.54K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.23M	USD	Annual
Income taxes prepaid (payable)	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$127.01K	USD	Annual
Income taxes prepaid (payable)	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-384.23K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$43.43K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$107.83K	USD	Annual
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$882.00	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$312.88K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-302.84K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$210.65K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$554.59K	USD	Annual
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-164.52K	USD	Annual
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-23.64K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.50M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$122.84K	USD	Annual
Acquisition of business (Cables Unlimited)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$2.80M	USD	Annual
Purchase of certificates of deposit	`PaymentsToAcquireInvestments`	$4.65M	USD	Annual
Purchase of certificates of deposit	`PaymentsToAcquireInvestments`	$5.01M	USD	Annual
Maturity of certificates of deposit	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$5.97M	USD	Annual
Maturity of certificates of deposit	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$6.08M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$151.85K	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$368.20K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$801.07K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.74M	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$205.11K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$981.75K	USD	Annual
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$102.70K	USD	Annual
Excess tax benefit from stock based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$78.23K	USD	Annual
Excess tax benefit from stock based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$312.32K	USD	Annual
Principal payments on mortgages payable	`RepaymentsOfLongTermDebt`	$14.45K	USD	Annual
Dividends paid	`PaymentsOfDividendsCommonStock`	$84.11K	USD	Annual
Dividends paid	`PaymentsOfDividendsCommonStock`	$2.53M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$199.23K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.35M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.50M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.97M	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.76M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$4.73M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.76M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$4.73M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$925.00K	USD	Annual
Income taxes paid	`IncomeTaxesPaid`	$928.00K	USD	Annual
Interest paid	`InterestPaid`	$28.80K	USD	Annual
Retirement of treasury stock	`RetirementOfTreasuryStock`	$102.70K	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.25M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$16.91M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$19.68M	USD	Point-in-time
Net income	`ProfitLoss`	$773.01K	USD	Annual
Net income	`ProfitLoss`	$1.22M	USD	Annual
Stock based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$312.31K	USD	Annual
Stock based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$231.00K	USD	Annual
Stock issuance related to contingent liability	`StockIssuedDuringPeriodValueNewIssues`	$10.00K	USD	Annual
Stock issuance for acquisition of business	`StockIssuedDuringPeriodValueAcquisitions`	$2.80M	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$205.11K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$981.75K	USD	Annual
Excess tax benefit from exercise of stock options	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$78.23K	USD	Annual
Excess tax benefit from exercise of stock options	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$312.32K	USD	Annual
Consolidation of VIE	`ConsolidationVariableInterestEntity`	$216.34K	USD	Annual
Treasury stock purchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$102.70K	USD	Annual
Dividends	`DividendsCommonStockCash`	$84.11K	USD	Annual
Dividends	`DividendsCommonStockCash`	$2.53M	USD	Annual
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.25M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$16.91M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$19.68M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.